US banking group considers suing OCC over crypto trust charters

The Bank Policy Institute (BPI), a U.S. banking policy group, is reportedly considering a lawsuit against the Office of the Comptroller of the Currency (OCC) over its approval of national trust bank charters for cryptocurrency and fintech companies, The Block reported. The BPI argues that this measure allows firms to receive a federal seal of approval without being subject to the same strict capital and compliance requirements as traditional banks. The OCC previously approved conditional charters for five companies last December, including Ripple, Fidelity, Paxos, and BitGo, stating at the time that the applicants had undergone the same rigorous review as regular banks.